FSM - Fortuna Silver surges on Q3 gains in silver gold production

Fortuna Silver Mines ( NYSE: FSM ) +8.6% in Thursday's trading to its highest level since late June after reporting Q3 mining production results it said places it "in a good position to achieve the upper range of silver annual guidance."

Fortuna ( FSM ) said Q3 silver production jumped 7.3% Y/Y to 1.837M oz and gold output edged 1.4% higher Y/Y to 66.3K oz.

The miner said its surging silver production was driven primarily by higher tonnage treated at the San Jose mine, while gains in gold were driven mostly by contributions of 30K oz from the Lindero mine and 27K oz from the Yaramoko mine.

Fortuna ( FSM ) reiterated its FY 2022 production guidance of 6.2M-6.9M oz of silver and 244K-280K oz of gold, or 369K-420K gold equivalent oz including lead and zinc by-products.

Fortuna ( FSM ) and other precious metals miners have been rising in recent days as declines in the dollar and U.S. Treasury yield helped lift gold and silver prices .

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